Summary
U.S. Bancorp (USB) has filed an 8-K report announcing the issuance of $500 million in 3.250% Medium-Term Notes, Series X (Senior) due September 17, 2021. This debt offering was conducted under a previously filed registration statement on Form S-3. The filing includes a legal opinion from Mayer Brown LLP regarding the legality of these notes. This issuance represents a move by U.S. Bancorp to raise capital through the debt markets. Investors interested in the company's debt profile should note the maturity date and coupon rate of these new notes. The senior nature of the notes indicates their priority in the event of bankruptcy relative to subordinated debt.
Key Highlights
- 1U.S. Bancorp issued $500 million in senior Medium-Term Notes.
- 2The notes carry a fixed interest rate of 3.250%.
- 3The maturity date for these notes is September 17, 2021.
- 4The issuance was made under an existing registration statement on Form S-3.
- 5A legal opinion from Mayer Brown LLP is included as an exhibit.